I believe that Australian investors are spoilt for choice when it comes to growth shares. But with so many high quality and fast-growing shares, it can be hard to decide where to invest.
To give investors a hand I thought I would pick out five fast-growing companies in different industries which I believe could be great investments.
If I had a spare $25,000 I would invest $5,000 in each of these shares:
a2 Milk Company Ltd (Australia) (ASX: A2M)
Despite the problems that the embattled Bellamy's Australia Ltd (ASX: BAL) faced in China, a2 Milk has continued to grow strongly in the country. Strong demand from Chinese buyers recently sent half-year revenue soaring 84% to NZ$256 million. Impressively net profit after tax grew at an even quicker rate of 290% to NZ$39.4 million. This is certainly a growth share I would want in my portfolio.
Appen Ltd (ASX: APX)
Appen is a leading provider of high-quality language data and services to major technology companies, automakers, and government agencies. This year management has guided to earnings growth in excess of 20%. I'm confident that the strong demand for its services from companies such as Facebook and Microsoft will mean the company delivers on this.
Galaxy Resources Limited (ASX: GXY)
Thanks to the incredible growth of lithium-ion batteries for use in smart devices, electric cars, renewable energy, and laptops, I can't see the insatiable demand for lithium ending any time soon. As one of the world's leading lithium miners with a world-class asset, I believe Galaxy Resources is in a fantastic position to profit.
Ramsay Health Care Limited (ASX: RHC)
This leading private hospital operator has grown its earnings by an average of almost 17% per annum for the last decade. I believe the company can continue this incredible form over the next few years thanks to hospital expansions and increasing demand for its services. In my opinion Ramsay is one of the best buy and hold investments on the ASX.
Webjet Limited (ASX: WEB)
Webjet certainly has had a great start to FY 2017. In a recent update it revealed that it has been experiencing industry-beating bookings growth year-to-date. Bookings in the consumer market have outperformed the industry by more than four times. Even more impressive has been its business-to-business bookings which have grown at 10 times the industry average. It is for this reason that I think Webjet is possibly the ultimate growth share on the ASX.
